Thu, 06 Aug 2020

Gov't financing program helps MSMEs restart operations

Philippine Information Agency
14 Jul 2020, 18:38 GMT+10

ROXAS CITY, Capiz, July 14 (PIA) -- Some 23 Micro, Small and Medium Enterprises (MSMEs) engaged in the culinary school, agricultural products, food manufacturing, carinderia, sari-sari as well as dry goods stores, shoes trading, construction supply, funeral home, salon and garments businesses in Capiz were approved of their loan applications to the government's financing program through the Small Business Corporation's (SBC) Pondo Para sa Pagbabago COVID-19 Assistance to Restart Enterprises (P3 CARES).

"The approved loans amounted to P1.7-million as of July 6," said SBC P3 provincial coordinator Mark Paul Serran, noting that some of the approved applications were already released of their borrowed amount while others are yet to get their loan this month.

Based on the Department of Trade and Industry (DTI) records, a total of 152 loan applications were received and pre-screened since the province was placed under the General Community Quarantine on May 1.

"We encourage our MSMEs to establish and maintain a good track record since all applications are screened on the basis of the business'ability to bounce back based on projected cash flow and good credit standing before the crisis," said Capiz DTI provincial director Ken Queenie Cunada.

The DTI and SBC are hand-in-hand in providing immediate relief and in supporting the micro and small businesses amid the COVID-19 crisis.

All interested MSME - applicants may contact SBC thru Serran at (036) 6212637; 09756448606 and 09453102006 or visit the DTI Provincial Office at the Sacred Heart of Jesus Boulevard, Pueblo de Panay in Roxas City. (JBG/AAL/PIA Capiz)

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